Mercedes-Benz Reduces Employee Bonuses Following Profit Decline

The automaker cites a challenging year with falling profits and sales, particularly in China, as reasons for the reduced payout.

Mercedes-Benz employees in Germany will receive a maximum bonus of €5,220 for 2024, down from the record €7,300 in the previous two years.
The bonus will be distributed in April to approximately 91,000 eligible employees as a gesture of appreciation during difficult times.
The company experienced a significant 28% drop in net profits last year, with earnings falling to €10.4 billion.
Sales and revenue also declined, with a 4.5% decrease in revenue to €145.6 billion and a nearly one-third drop in operating profit to €13.6 billion.
Mercedes-Benz has announced a cost-cutting program to improve profitability, following weaker performance in key markets like China.